Tether Dumps on Fake News of Binance Delisting Tether (USDT)

Tether Dumps on Fake News of Binance Delisting Tether (USDT)

Rumors about a possible delisting of Tether (USDT) by Binance, one of the world’s largest crypto exchanges has been termed Fake purported by some fake news website. In what looked like a regular blog post from the biggest crypto exchange in the world, Tether was labeled a “scam” and trading in all USDT related pairs were

Rumors about a possible delisting of Tether (USDT) by Binance, one of the world’s largest crypto exchanges has been termed Fake purported by some fake news website.

In what looked like a regular blog post from the biggest crypto exchange in the world, Tether was labeled a “scam” and trading in all USDT related pairs were to be delisted on 16th October.

Many crypto traders on all social media and messaging platforms, got the following screenshot claiming to be an official announcement from Binance.

The community actively fought back against the fake news with one Twitter user @boxmining calling out the scam. He said that Binance is a very politically correct organization and would never write something like this.

In a retweet, the CEO of Binance, Changpeng Zhao, has indirectly clarified that the exchange was not delisting Tether (USDT).

FAKE: Saw this floating around and it’s an obvious fake. Binance is VERY politically correct and will never write “Tether big scam” (it doesn’t even make grammatical sense). This is just as bad as the “Vitalik is dead” scam last year. @cz_binance@binancepic.twitter.com/bd9Anvclmt

This has collapsed the USDT as it did not go unnoticed by cryptocurrency enthusiasts. Traders holding Tether sought to flee from possible losses by turning to Bitcoin (BTC) as a safer alternative to the USD pegged cryptocurrency. As a result, Bitcoin got a major boost with reports of trading on Binance of as high as $7,500. BTC has since stabilized at $6,800.0